IHT Wealth Management LLC Has $412,000 Stock Position in The Cigna Group (NYSE:CI)

IHT Wealth Management LLC increased its position in shares of The Cigna Group (NYSE:CI) by 28.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,491 shares of the health services provider’s stock after acquiring an additional 327 shares during the quarter. IHT Wealth Management LLC’s holdings in The Cigna Group were worth $412,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CI. TCTC Holdings LLC purchased a new stake in shares of The Cigna Group in the fourth quarter valued at $25,000. Collier Financial acquired a new position in The Cigna Group during the fourth quarter valued at $32,000. ORG Wealth Partners LLC purchased a new stake in The Cigna Group in the 4th quarter worth about $34,000. Compagnie Lombard Odier SCmA acquired a new stake in The Cigna Group during the 4th quarter worth about $37,000. Finally, Transce3nd LLC purchased a new position in The Cigna Group during the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Buying and Selling

In other news, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the sale, the director now owns 5,471 shares of the company’s stock, valued at approximately $1,697,924.85. This trade represents a 30.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicole S. Jones sold 4,904 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the transaction, the insider now directly owns 29,421 shares of the company’s stock, valued at approximately $9,065,198.52. This trade represents a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,751 shares of company stock valued at $13,603,991. 0.70% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on CI. Sanford C. Bernstein lowered shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price target for the company. in a research report on Thursday, February 6th. Stephens decreased their target price on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Barclays cut their price objective on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Piper Sandler restated an “overweight” rating and issued a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Finally, Raymond James reaffirmed a “strong-buy” rating and set a $360.00 price target (down from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $373.56.

The Cigna Group Stock Performance

Shares of CI opened at $335.60 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The company’s fifty day moving average price is $319.82 and its 200 day moving average price is $310.44. The company has a market capitalization of $91.85 billion, a PE ratio of 27.42, a price-to-earnings-growth ratio of 0.98 and a beta of 0.51.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same period last year, the firm posted $6.79 EPS. As a group, analysts expect that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be paid a $1.51 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a dividend yield of 1.80%. The Cigna Group’s payout ratio is 49.35%.

The Cigna Group Profile

The Cigna Group, together with its subsidiaries, provides insurance and related products and services in the United States. Its Evernorth Health Services segment provides a range of coordinated and point solution health services, including pharmacy benefits, home delivery pharmacy, specialty pharmacy, distribution, and care delivery and management solutions to health plans, employers, government organizations, and health care providers.